Most businesses share a common goal – to maximise customer traffic and most importantly, profit. I expose businesses to new ideas and challenge them to seek out exciting sales opportunities which they have missed
Image is becoming increasingly important to consumers and this has significant dollar implications for retailers. Sales-driven store design, innovative merchandising and powerful branding is fundamental to keeping physical stores profitable – it keeps consumers consuming.
Over time most retailers become ‘shop blind’ and opportunities to maximise sales are overlooked.
Visual merchandising is a highly influential selling tool. For most businesses, approximately 80% of sales are generated by only 20% of products. Does your current visual merchandising strategy showcase this 20% to full potential? If not, you are probably losing sales.
The Internet shifted retail ‘goal posts’, yet many physical businesses continued to aim in the same direction and looked externally for factors to blame when sales declined. Opportunities are abundant once you accept that retail is not static.
It often takes an experienced retailer, from outside the organisation to inspire you to refocus on opportunities to build sales.
Never allow a lack of funding to hold you back as you do not need to spend a lot to make a difference!
I am more excited by the Making initiatives that can be put in place than the compartmentalised approach to creating the physical space.
Frequently, I note the implementation of Maker Spaces in libraries is less impressive than the colourful words that surround it’s description.
I understand there is more to a library than loan stats, however it is important not to discount the relevance of these as a benchmark. To this end, I ask all libraries, “what would you change about your library if you were to receive a dollar in your personal bank account for every item borrowed”?